Day: March 29, 2011

Pentonomics – The Inflation Knuckleball

By its very definition, fiat money is something created out of thin air: the word “fiat” is Latin for “let it be done” (as in, by decree). But the convenience that such a currency system offers central bankers is paid at the expense of savers. With nothing of real or lasting value on which to anchor, the value of fiat currencies can …

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